NEW RICHMOND, Wis., May 6, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 20-townhome portfolio in New Richmond, Wisconsin, for $4.6 million.
“Townhome portfolios in New Richmond rarely trade, as most are owned by individual homeowners, making this a particularly notable transaction for the market,” said Scott M. Anderson, multifamily investment specialist. “This marks the largest townhome portfolio sale in the city to an investment group where the seller was not the original developer. With strong population growth, expanding development activity and increasing demand for quality housing, New Richmond is quickly emerging as one of western Wisconsin’s most attractive and scalable residential markets. New Richmond offers an abundance of land supply, offers infrastructure for long-term sustaining of development, and offers ease of travel to the Twin Cities metro.”
Anderson, a multifamily investment specialist in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a Wisconsin-based investment group, and procured the buyer, a Wisconsin-based syndication.
The portfolio consists of 20 townhomes on Norway Pine Circle, near the up and coming neighborhood near the intersection of West Richmond Way and County Road A in New Richmond. Built in 2016, all units are three-bedroom, two-bathroom homes. The property is located in the growing City of New Richmond in St. Croix County, about 40 miles from Minneapolis–Saint Paul.
